Effective management of cash is key in a business.
It’s rare for small- or medium-sized businesses to have a dedicated finance manager with the time to spend maximising the return on cash or managing bank credit risk.
It can often be a burden to be continually researching the best bank accounts, let alone to be opening, closing and maintaining multiple accounts.
However, it is important to maximise the returns you can achieve on your cash and do so without compromising security and accessibility.
We can facilitate the introduction of a simple, convenient and innovative solution to these problems.
This solution is provided by Flagstone and it allows business-owners with cash deposits of more than £250,000 to easily open and switch accounts within a panel of banks. This can help achieve better rates and spread risk through diversification.
The Flagstone portal offers access to more than 30 banks and around 450 instant access, notice and term accounts. These include deposit rates which are not available to clients on the high street, but which are only obtainable due to the scale of assets held collectively through the portal.
Clients need to complete only one application form and no additional paperwork is required to switch between banks.
Please note that this service is separate and distinct to those offered by St. James's Place.